International monetary policy with commodity buffer stocks

Artikel

This proposal argues in favor of commodity price stabilization via international commodity buffer stocks and the tying of these stocks to the creation of a new international reserve currency. Financing commodity buffer stocks through the issuance of an international reserve makes commodity price stabilization financially viable and offers a countercyclical issuance of international reserves to fight global deflation. Both measures address the volatility of commodity prices due to a lack of private sector storage and macroeconomic demand factors. This proposal urges the reader to look back to the global Keynesian policies of the 1940s, 1960s, and 1970s for inspiration in solving today's commodity price instability and secular stagnation.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Journal: European Journal of Economics and Economic Policies: Intervention (EJEEP) ; ISSN: 2052-7772 ; Volume: 13 ; Year: 2016 ; Issue: 1 ; Pages: 10-25

Classification and Topics

• Classification: Wirtschaft ; History of Economic Thought since 1925: Financial Economics ; International Economic Order and Integration ; Commodity Markets
• Subject: commodity buffer stocks ; commodity reserve currency ; resource security

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Ussher, Leanne
• Event: Veröffentlichung
• (who): Edward Elgar Publishing
• (where): Cheltenham
• (when): 2016

Further information

• DOI: doi:10.4337/ejeep.2016.01.02
• Handle: http://hdl.handle.net/10419/277344
• Last update: 10.03.2025, 11:43 AM CET